Iridium and FURUNO Announce Strategic Partnership

Published 7:00 AM ET Mon, 19 Oct 2015
Globe Newswire

MCLEAN, Va., Oct. 19, 2015 (GLOBE NEWSWIRE) -- Iridium Communications Inc. (Nasdaq:IRDM) and maritime navigation and communications equipment leader FURUNO ELECTRIC CO., LTD. (Tokyo Stock Exchange 6814) today announced a strategic partnership in which Furuno will be marketing Iridium satellite services and products initially in Japan. As part of this agreement, Furuno will be developing a new part of its portfolio of satellite communications service with Iridium. That may include the Iridium Pilot® antennas, powered by the Iridium OpenPort® broadband service, providing the industry’s only pole-to-pole mobile wireless coverage for ships at sea; Iridium GO!®, the world’s first truly global online smartphone access device; weather resistant Iridium Extreme® handset; and the Iridium Short Burst Data (SBD) service.

Furuno will focus on providing its customers with the benefits from the capabilities that will be enabled by Iridium NEXT, the Company’s next-generation satellite constellation.

The Iridium global mobile satellite network delivers reliable communications, anywhere on the planet—even polar regions—and its unique mesh architecture of 66 cross-linked satellites is less susceptible to inclement weather or interference that may impact the performance of other systems. This reliable, truly global coverage is necessary for critical maritime communications.

“We are excited that Furuno—recognized as a global leader in maritime navigation and communications gear—has joined Iridium’s ecosystem of partners,” said Bryan Hartin, executive vice president, sales and marketing, Iridium. “Together, we’ll be enabling more ships to navigate safely—anywhere and everywhere at sea—leveraging the unique benefits of the Iridium network.”

Iridium is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. The company has a major development program underway for its next-generation network — Iridium NEXT. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the NASDAQ Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.

About FURUNO

Since commercializing the world's first fish finder in 1948, FURUNO has supplied many types of products for the marine electronics market. By using its exclusive ultrasonic and electronics technologies, FURUNO has developed various types of products that were the first in Japan or the world to offer particular functions or capabilities. Today, FURUNO is a full-line manufacturer and solution provider for maritime industry with operating bases over 83 countries around the world. The company has a well-established brand backed by a solid position in the marine electronics industry that includes a roughly 40% share of the global marine radar market.

Forward-Looking Statements

Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this presentation include statements regarding the development and capabilities of the Iridium NEXT constellation and end-user products, including the expected Iridium NEXT deployment and launch schedule. Forward-looking statements can be identified by the words "anticipates," "may," "can," "believes," "expects," "projects," "intends," "likely," "will," "to be" and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding Iridium NEXT and end-user product development and functionality, potential delays in Iridium NEXT deployment, and the company's ability to maintain the health, capacity and content of its current satellite constellation, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2014, filed with the Securities and Exchange Commission ("the SEC") on February 26, 2015, and the Company's Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on July 30, 2015, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium's expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium's underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium's forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.